Rhodia Downgrades Full-Year Earnings Guidance

9:59 AM MST | December 15, 2008 | Chemical Week Editorial Staff

Rhodia has downgraded its full-year earnings guidance and says that 2008 recurring Ebitda will be “about 10% below” the almost €800 million achieved in 2007. The revision will impact Rhodia’s earnings-per-share objective for the year, the company says. Rhodia had until one month ago forecast that its 2008 Ebitda would be “within 5%” of the 2007 result. “Over the last few weeks we have witnessed short-notice cancellation of orders, coming even from geographical areas that had shown satisfactory dynamics until...